Hindalco Industries Ltd announced its fiscal second quarter earnings with a profit of Rs 3,909 crore, registering a growth of 78.0 per cent in comparison to Rs 2,196 crore during the same period of previous financial year. Profit, it said, was driven by a strong operational performance by the India business, favourable macros and prudent cost management. It posted revenue from operations at Rs 58,203 crore, up 7.4 per cent as against Rs 54,169 crore during the second quarter of FY24.
Aluminium Upstream EBITDA per tonne was at $1,349, up 80 per cent, with industry-best margins of 41 per cent. Copper Business delivered another record-breaking performance in Q2, with EBITDA at an all-time high of Rs 829 crore, up 27 per cent. Novelis’ performance was impacted by the Sierre flood and tightening of scrap spreads. Excluding the Sierre flood impact, shipments grew by 4 per cent and EBITDA per tonne was at $502.
Also Read‘We will continue to explore options to further reduce debt in the near term’
Hindalco said that the company generated healthy cash flow which helped it keep the Net Debt to EBITDA ratio below 1.2x.
Also Read Vedanta swings to black with Q2 profit at Rs 5,603 crore, revenue down 3.6% YoY Aditya Birla Fashion and Retail posts widened Q2 loss of Rs 214.70 crore, revenue up 12.9% YoY Kansai Nerolac Paints posts Q2 profit at Rs 122.79 crore, down 30.7% YoY; Anuj Jain says demand expected to improve in H2 GAIL posts Q2 profit growth of 10.1% at Rs 2689.67 crore, revenue up 2.8% YoY
Satish Pai, Managing Director, Hindalco Industries, said, “Our India business delivered a strong operational performance in Q2 bolstered by our relentless focus on operational reliability and cost management. Consequently, our Aluminium India Upstream business reported an EBITDA per tonne of $1,349— the highest in the last 10 quarters and the best-in-industry globally. The Copper business achieved another record quarterly EBITDA. Novelis’ global footprint allowed the company to achieve record beverage packaging shipments, partially offsetting the impact from the flooding-related outage at Sierre. During the quarter, we made significant progress across our growth projects in India Business and Novelis.”
Q2 performance across business verticals
Novelis reported revenue at $4.3 billion,
» Read More
